BMO Capital Markets Forecasts Strong Price Appreciation for Power Co. of Canada (TSE:POW) Stock

Power Co. of Canada (TSE:POW) had its price target increased by analysts at BMO Capital Markets from C$69.00 to C$79.00 in a report issued on Tuesday,BayStreet.CA reports. BMO Capital Markets’ target price would suggest a potential downside of 0.88% from the company’s previous close.

Other equities analysts also recently issued research reports about the company. National Bank Financial upped their target price on Power Co. of Canada from C$69.00 to C$77.00 and gave the company a “sector perform” rating in a report on Wednesday, February 4th. Scotiabank upped their target price on Power Co. of Canada from C$76.00 to C$78.00 and gave the company an “outperform” rating in a report on Thursday, February 19th. Royal Bank Of Canada upgraded Power Co. of Canada from a “hold” rating to a “moderate buy” rating and upped their target price for the company from C$69.00 to C$73.00 in a report on Friday, March 20th. Canadian Imperial Bank of Commerce upped their target price on Power Co. of Canada from C$75.00 to C$78.00 and gave the company a “hold” rating in a report on Friday, March 20th. Finally, Jefferies Financial Group upped their target price on Power Co. of Canada from C$68.00 to C$73.00 in a report on Friday, March 20th. Four research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of C$76.38.

Power Co. of Canada Trading Up 1.6%

TSE POW traded up C$1.26 on Tuesday, hitting C$79.70. 641,787 shares of the company were exchanged, compared to its average volume of 2,468,649. The company’s 50 day moving average price is C$69.88 and its 200-day moving average price is C$69.59. The company has a debt-to-equity ratio of 105.91, a current ratio of 1.44 and a quick ratio of 107.64. The firm has a market capitalization of C$50.44 billion, a P/E ratio of 20.23, a price-to-earnings-growth ratio of 0.57 and a beta of 0.71. Power Co. of Canada has a twelve month low of C$48.18 and a twelve month high of C$80.25.

Power Co. of Canada (TSE:POW) last posted its quarterly earnings data on Wednesday, March 18th. The financial services provider reported C$1.36 earnings per share (EPS) for the quarter. The firm had revenue of C$8.84 billion for the quarter. Power Co. of Canada had a return on equity of 10.81% and a net margin of 6.98%. Analysts predict that Power Co. of Canada will post 4.9289678 earnings per share for the current fiscal year.

Power Co. of Canada Company Profile

Power Corp. of Canada is a diversified holding company with interests in financial services, communications, and other business sectors through its controlling interests in Power Financial. Power Financial in turn holds controlling interests in Great-West Life (an insurance conglomerate), IGM Financial (Canada’s largest nonbank asset manager), and Pargesa (a holding company with interests in European companies). Power Corp. bought out the remaining shares of Power Financial in February 2020.